This article, titled “Community Revitalization and Investment Authorities: A new era in tax increment financing” is about California’s Assembly Bill 2 of 2015.
It appears in the Spring 2016 issue of the California Economic Development Journal.
Assembly Bill 2 authorizes the creation of Community Revitalization and Investment Authorities (“CRIA”) in California. They take the place of the Redevelopment Authorities that Governor Brown dissolved in 2014 due to the ineffiociency and corruption that was plaguing many of them.
CRIAs will use an improved process for creating tax increment financing districts that requires the approval of all local taxing authorities.